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kindly refer to the photo below: Ex 6-3. Costing of various jobs Kring-Kring Company begins operations on July 1. Information from Job orders of different

kindly refer to the photo below:

image text in transcribedimage text in transcribed
Ex 6-3. Costing of various jobs Kring-Kring Company begins operations on July 1. Information from Job orders of different customers shows the following: Customer July August September Obama P52,000 P44,000 Nixon 41,000 39,000 30,000 Bush 12,000 GMA 47,000 45,000 FVR 39,000 36,000 The job ordered by Bush was completed in July. Job ordered by Obama was completed in August and Jobs ordered by Nixon and GMA were completed in September. Each job was sold at cost plus 40% markup in the month following its completion.Required: Determine the following: 1) Balance of Work in process at the end of each month 2) Determine the gross profit for each month

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